Posted by
yon
13 yrs ago
Hi,
I am planning to bring over a helper from Philippines. I know her and I am already communicating with her.
Before she comes over, I'd like to start thinking about getting her set up with a Bank. She doesn't have a bank account in Philippines nor here in HK.
What would be the best Bank to set up account for DH. especially if you want to send money to Philippines.
I currently have HSBC. Would it take much for me to directly deposit the wages to that recommended bank account?
Thanks for the suggestions.
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i don't know if any bank is more favourable than another in terms of remitting to the Phillipines but I doubt it. the helper is likely to use one of the hundreds of established transfer agencies around anyway. so which bank is probably not an issue.
the government suggest that you use a bank transfer or cheques to pay your helper so you have a clear record of all monies paid to him/her.
HSBC can transfer to any bank online quite easily. some small charge though for some banks.
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Yon, there's a lot of Filipino Bank in Worldwide Centre in Cental, Metrobank, BPI, RCBC..I used Metrobank ( saving and transferring money to the Philippines) the recipient will recieve the money in a minute only..Metrobank is one of the biggest bank company in the Philippines.
If you use Hsbc TT it takes few days and they charge you more compare to Filipino Bank. metrobank charge HK$. 20 every transaction and the rate is better than HSBC and if you have an account with them they have a better rate for that..
'
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Our helper uses Hang Seng. You can get an account by putting in an initial 4k (I think) so the first salary is enough. No fees for ATM services, only for teller services.
HSBC is not a good idea since their fees are relatively high if you have helper level balances. However you can transfer to any bank via the Internet for $30. Takes three days to transfer.
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yon
13 yrs ago
Thank you for the detailed information!
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